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goji.go goji.go
wrote...
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Posts: 5977
Rep: 293 0
10 years ago
The Special Revenue Fund of the city of Wakefield ended its fiscal year with revenues of $750,000, other financing sources of $50,000, and expenditures of $725,000. The closing entry in the Special Revenue Fund would be
      Debit   Credit
A.   Expenditures
Net profit
     Revenues
     Other Financing Sources   $725,000
75,000   

$750,000
50,000
B.   Expenditures
Other Financing Uses
     Revenues
     Other Financing Sources   $725,000
75,000   

$750,000
50,000
C.   Revenues
Other Financing Sources
     Expenditures
     Other Financing Uses   $750,000
50,000   

$725,000
75,000
D.   Revenues
Other Financing Sources
     Expenditures
     Fund Balance   $750,000
50,000   

$725,000
75,000
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
wrote...
#1
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Posts: 10774
Rep: 1064 3
10 years ago
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goji.go Author
wrote...
#2
10 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
10 years ago
You're very welcome!
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